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Indie Semiconductor Buys Swiss Co. Exalos for about $45M

Purchase will add to financial results next year

Automobile-focused Indie Semiconductor in Aliso Viejo has purchased Exalos AG, a privately held Swiss company specializing in the design of high-performance optical semiconductors, for about $45 million.

“In addition, if certain revenue-based performance targets are exceeded over a 24-month post-closing period, there is an opportunity for such holders to earn up to $20 million more in cash or Indie Class A common shares, at Indie’s election,” Indie (Nasdaq: INDI) said in a statement yesterday announcing the purchase.

The acquisition is expected to be financially neutral in 2023 and add to Indie’s 2024 results, the statement said.

Shares in Indie fell 1.6% to $6.36 apiece for a market cap of $975 million today.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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